MIRA INFORM REPORT
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Report No. : |
331049 |
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Report Date : |
11.07.2015 |
IDENTIFICATION DETAILS
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Name : |
ELKEM SOUTH ASIA PRIVATE LIMITED (w.e.f. 06.07.2011) |
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Formerly Known
As : |
ORKLA INDIA PRIVATE LIMITED (w.e.f. 18.01.2008) ELKAM INDIA PRIVATE LIMITED (w.e.f. 18.11.1999) ELKEM METALLURGY PRIVATE LIMITED |
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Registered
Office : |
307/308, B-wing, BSEL Tech Park, Sector 30 A, Vashi, Navi
Mumbai – 400705, Maharashtra |
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Tel. No.: |
91-22-67761900 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
08.06.1987 |
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Com. Reg. No.: |
11-043668 |
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Capital
Investment / Paid-up Capital : |
Rs.10.000 Million |
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CIN No.: [Company Identification
No.] |
U99999MH1987FTC043668 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company is mainly engaged in trading operations which includes import purchase from Elkem group companies and eventual sales in local area, marketing Elkemâ’s products, viz Microsilica to refractory and construction industries, Foundry alloys to Foundry Industries, carbon based products to the ferro alloy and aluminium industries and Silicon Metal to Aluminium and Automotive industries. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track record. For the financial year ended 2014, company possesses healthy
operational risk profile but profit of the company has declined during a year
under a review. However, company has maintained profitability margins at
4.31%. Rating also takes into account of established track record of business
operation backed by adequate financial base along with strong net worth base
and zero debt balance sheet profile of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION DENIED
Management non co-operative (91-22-67761900)
LOCATIONS
|
Registered Office : |
307/308, B-wing, BSEL Tech Park, Sector 30 A, Vashi, Navi
Mumbai – 400705, Maharashtra, India |
|
Tel. No.: |
91-22-67761900 |
|
Fax No.: |
91-22-67761999 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 24.09.2014
|
Name : |
Mr. Srinivasan Saranathan Iyer |
|
Designation : |
Director |
|
Address : |
Flat No 101 and 102 A 2, Shri Shankara, P L Lokhande Marg,
Govandi, Mumbai- 400043, Maharashtra, India |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
03506599 |
|
|
|
|
Name : |
Erik Bergsmo |
|
Designation : |
Director |
|
Address : |
Room 2601, No 16, Lane 2, West Wei Fang Road, Shanghai
Prc, 200120, China |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
03557163 |
|
|
|
|
Name : |
Jostein Moe |
|
Designation : |
Additional Director |
|
Address : |
Tykkelimoen 11, Kristiansand, 4618, Norway |
|
Date of Appointment : |
19.12.2014 |
|
DIN No.: |
07033495 |
MAJOR SHAREHOLDERS
As on 24.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Elkem AS |
|
99999 |
|
S. S. S. Iyer |
|
1 |
|
Total |
|
100000 |
As on 24.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is mainly engaged in trading operations which
includes import purchase from Elkem group companies and eventual sales in local
area, marketing Elkemâ’s products, viz Microsilica to refractory and
construction industries, Foundry alloys to Foundry Industries, carbon based
products to the ferro alloy and aluminium industries and Silicon Metal to
Aluminium and Automotive industries. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Auditors : |
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Name : |
Lovelock and lewes Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028,
Maharashtra, India |
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PAN No.: |
AABFL5878L |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Elkem AS, Norway |
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Ultimate Holding
Company : |
China National Chemical corporation |
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Fellow Subsidiaries
: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
649.681 |
602.187 |
517.414 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
659.681 |
612.187 |
527.414 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
5.177 |
3.756 |
3.045 |
|
(d) long-term
provisions |
7.581 |
6.568 |
5.422 |
|
Total Non-current
Liabilities (3) |
12.758 |
10.324 |
8.467 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
162.410 |
165.774 |
153.361 |
|
(c) Other
current liabilities |
15.642 |
14.261 |
11.636 |
|
(d) Short-term
provisions |
7.375 |
7.394 |
7.151 |
|
Total Current
Liabilities (4) |
185.427 |
187.429 |
172.148 |
|
|
|
|
|
|
TOTAL |
857.866 |
809.940 |
708.029 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
40.616 |
41.019 |
38.573 |
|
(ii)
Intangible Assets |
0.122 |
0.202 |
0.308 |
|
(iii)
Capital work-in-progress |
1.508 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
9.917 |
4.161 |
2.602 |
|
(d) Long-term Loan and Advances |
14.012 |
12.399 |
11.118 |
|
(e) Other Non-current
assets |
4.470 |
0.269 |
30.605 |
|
Total Non-Current
Assets |
70.645 |
58.050 |
83.206 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
252.806 |
262.345 |
248.986 |
|
(c) Trade
receivables |
263.148 |
256.592 |
187.753 |
|
(d) Cash
and cash equivalents |
234.850 |
199.485 |
163.622 |
|
(e)
Short-term loans and advances |
24.717 |
21.794 |
15.503 |
|
(f) Other
current assets |
11.700 |
11.674 |
8.959 |
|
Total
Current Assets |
787.221 |
751.890 |
624.823 |
|
|
|
|
|
|
TOTAL |
857.866 |
809.940 |
708.029 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
|
|
950.719 |
857.273 |
|
|
Other Income |
|
17.168 |
11.057 |
|
|
TOTAL |
1101.447 |
967.887 |
868.330 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
12.074 |
21.285 |
|
|
Purchase of Stock-in-trade |
|
712.804 |
706.701 |
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
|
(9.582) |
(88.762) |
|
|
Employee Benefits Expenses |
|
46.031 |
42.268 |
|
|
Other Expenses |
|
76.071 |
86.175 |
|
|
TOTAL |
1031.909 |
837.398 |
767.667 |
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
130.489 |
100.663 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
0.380 |
2.784 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
130.109 |
97.879 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
5.344 |
4.175 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
69.538 |
124.765 |
93.704 |
|
|
|
|
|
|
|
Less |
TAX |
22.044 |
39.991 |
32.217 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
47.494 |
84.774 |
61.487 |
|
|
|
|
|
|
|
Add |
PROFIT FROM DISCONTINUING
OPERATIONS AFTER TAX |
0.000 |
0.000 |
10.396 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
595.412 |
510.638 |
438.755 |
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
595.412 |
510.638 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
Exports at FOB |
NA |
4.715 |
2.112 |
|
|
Agency Commission |
NA |
27.889 |
26.760 |
|
|
Income from services rendered |
NA |
0.000 |
0.000 |
|
|
Others |
NA |
0.371 |
0.744 |
|
|
TOTAL EARNINGS |
NA |
32.975 |
29.616 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials and Components |
NA |
13.129 |
15.609 |
|
|
Capital Goods |
NA |
1.101 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
14.23 |
15.609 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
474.94 |
848.74 |
718.84 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
43.547 |
49.717 |
|
Net cash flows from (used in) operations |
56.709 |
65.587 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA |
8.92 |
7.17 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
NA
|
13.73 |
11.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.22 |
15.48 |
13.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.20 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.25 |
4.01 |
3.63 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
517.414 |
602.187 |
649.681 |
|
Net worth |
527.414 |
612.187 |
659.681 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
868.330 |
967.887 |
1101.447 |
|
|
|
11.465 |
13.799 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
868.330 |
967.887 |
1101.447 |
|
Profit |
61.487 |
84.774 |
47.494 |
|
|
7.08% |
8.76% |
4.31% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---------------------- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
---------------------- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
---------------------- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
---------------------- |
|
33 |
Market information |
---------------------- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY INFORMATION
Subject is a Private Limited Company started in 1987 with 40% equity participation by Elkem AS Norway and as on date it is a 100% owned subsidiary Company of Elkem AS Norway. Elkem AS Norway is owned by China National Bluestar (Group) Co Ltd, which is owned by China National Chemical Corporation (80%) and Blackstone Group (20%). The company is mainly engaged in trading operations which includes import purchase from Elkem group companies and eventual sales in local area, marketing Elkems products, viz Microsilica to refractory and construction industries, Foundry alloys to Foundry Industries, carbon based products to the ferro alloy and aluminum industries and Silicon Metal to Aluminum and Automotive industries.
FINANCIAL PERFORMANCE
The performance of the Company has been adversely affected due to continued slowdown in the economy resulting to overall reduction in profit mainly impacted by forex losses and provision for doubtful debts created for over dues receivable outstanding for greater than one year. Due to severe competition, rising currency rates, increase in rates of materials, margins remained under pressure.
The Company focused on improving operational efficiencies across supply by having our presence close to our customer’s locations thereby giving customers just in time materials needed by them. Liquidity continues to be a concern for the industry and our customer and your Company is taking continuous steps to control our exposure. These developments affect your Company’s growth and performance. The volatile exchange rates and the depreciating Indian Rupee has hurt the Company where we have not been able to pass on the increased costs completely.
In Financial year 2013-14, India’s economic growth rate was pegged at 4.9%, a faster pace compared to previous year’s rate of 4.5%. Improved performance in agriculture and allied sectors led to this growth. High interest rates, rising fuel prices, low economic activities and poor sentiments hurt the industry. GDP growth is estimated to improve to around 5.5% supported by an anticipated pick up in investment activity in view of the part resolution of stalled projects, improved business and consumer confidence and expectation of lower inflation.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90149787 |
06/10/2000 |
5,000,000.00 |
ANDHRA BANK |
PERSIPOLIES BUILDING, MUMBAI, MAHARASHTRA, INDIA |
- |
|
2 |
90151516 |
16/08/2000 |
5,000,000.00 |
ANDHRA BANK |
PERSIPOLIES BUILDING, MUMBAI, MAHARASHTRA, INDIA |
- |
|
3 |
90151515 |
19/07/2000 |
690,000.00 |
ANDHRA BANK |
PERSIPOLIES BUILDING, MUMBAI, MAHARASHTRA, INDIA |
- |
|
4 |
90150743 |
22/12/1999 |
14,900,000.00 |
ANDHRA BANK |
PERSIPOLIES BUILDING, MUMBAI, MAHARASHTRA, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Buildings
- Plant and equipment
- Factory Equipments
- Furniture and fixtures
- Vehicles
- Motor vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.37 |
|
|
1 |
Rs.97.65 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
60 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.